Bath-based cybersecurity firm Blueskytec has raised £1.5m in funding to accelerate the rollout of its technology across national infrastructure.
The investment, backed by Maven Capital Partners via the British Business Bank’s South West Investment Fund, is set to fuel the company’s growth as demand rises from operators in sectors including defence, civil nuclear and energy.
Founded to address a growing gap in cybersecurity for operational technology (OT), Blueskytec has developed a patented hardware-based solution designed specifically for high-stakes industrial systems.
Its technology delivers a physical layer of cyber protection, which it sees as a key requirement as regulatory standards tighten across the infrastructure space.
It is already being used by government and industry bodies in the UK and US and has undergone extensive real-world testing.
With cyber threats to OT systems increasing in both volume and sophistication, the business says its platform provides ‘a unique hardware-based layer of cyber protection which is unavailable with other solutions’.
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The funding will also support the firm’s scale-up plans, including recruitment, business development and expanding its manufacturing capabilities as it prepares for full-scale deployment with a number of major industrial partners.
“We are delighted to be partnered with Maven and the South West Investment Fund at this significant moment for the company,” said Chris Mobley, CEO of Blueskytec.
“The Maven team dedicated time and effort to thoroughly understand our business, which enabled them to clearly see the full potential of the technology.
“We look forward to a strong collaborative relationship as we enter the next stage of our exciting journey.”
Rafi Khan, investment manager at Maven, added: “Blueskytec has developed a cybersecurity solution that addresses a critical gap in the market, particularly for infrastructure and operational technology systems.
“Given the rapidly expanding threat landscape and the regulatory imperative for enhanced cyber assurance, the addressable market for the company’s solution is large and growing.
“We’re delighted to back Chris, Nicky and the team at such a pivotal point in the company’s journey and look forward to working with them as they continue to expand.”
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